Florida Further Assurances is a legal concept that pertains to the actions required by parties involved in a transaction or contract in the state of Florida to ensure full compliance and fulfillment of their obligations. These actions go beyond what is explicitly stated in the agreement and aim to provide additional guarantees and protection for all parties involved. The term "Florida Further Assurances" encompasses various types of actions, such as: 1. Execution of Additional Documents: This includes signing and delivering any additional documents necessary to complete the transaction or to clarify and enforce the terms of the agreement. These documents may include deeds, assignments, releases, or any other legal instrument required to perfect the transaction. 2. Cooperation in Legal Proceedings: Parties may be required to cooperate fully and take necessary actions to assist in any legal proceedings related to the agreement. This may involve providing evidence, attending hearings, or offering testimony relevant to the case. 3. Decoration of Documents: In certain cases, Florida Further Assurances may necessitate the decoration of specific documents or filings with appropriate government agencies. This helps establish public notice, ensuring the validity and priority of the transaction in question. 4. Clearing Title Defects: Should any defects in the title arise during the transaction, the parties are responsible for taking additional steps to cure these defects. This may include obtaining and providing necessary documentation, correcting errors, or resolving any outstanding claims affecting the title. 5. Performance of Ancillary Obligations: Apart from the specific terms outlined in the agreement, parties may be obligated to take additional actions or fulfill ancillary commitments to ensure the transaction's success. These obligations can range from securing necessary permits and licenses to obtaining consents or approvals from relevant authorities. Florida Further Assurances is an essential legal concept that protects the interests of the parties involved in a transaction, ensuring compliance with all obligations and minimizing the potential for disputes or complications. Parties should carefully review their agreements to determine the specific types of further assurances required in their particular circumstances and seek legal advice to ensure compliance with Florida laws and regulations.
Florida Further Assurances
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By Practical Law Commercial. A boilerplate further assurance clause that seeks to ensure that the parties carry out any additional acts necessary to give effect to the contract, including the procuring of such acts by third parties.
All parties to an agreement must give consideration in order to create an enforceable contract. It is this trading of something valuable that distinguishes a contract from a gift. The amount of consideration to be traded is determined by the parties.
A contract implied in fact is one form of an enforceable contract; it is based on a tacit promise, one that is inferred in whole or in part from the parties' conduct, not solely from their words.? 17 Am. Jur.
A written contract is made under Florida law when the three elements of contract formation are present. These elements are an offer by one party to the other, the acceptance of the offer, and consideration. Acceptance is the last act necessary to complete the contract.
To prove the existence of a contract under Florida law, the party seeking enforcement must prove: (1) offer; (2) acceptance; (3) consideration; and (4) sufficient specification of the essential terms.
A binding, legally enforceable contract can be in writing or oral. Oral contracts are agreements that have been spoken, but not written. Depending on the nature of the transaction, certain types of contracts in Florida are required by law to be in writing in order to be enforceable.
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, elements of consideration can be satisfied by a valid substitute.
